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"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Sunday, September 4, 2011

Regulators Resurrect Financial Crisis

Regulators Resurrect Financial Crisis BAC, GS, JPM
Live Trading News
The litigation underscores how almost exactly 3 yrs after the collapse of Lehman Brothers, and the beginning of a financial crisis caused in large part by sub-prime lending, the legal fallout is growing. Add to that, there are 50 US state's Attorney ...

Senior IMF Economist Expects Hard Default For Greece. Soon.
Business Insider
According to a senior IMF economist who wasn't identified, Greece will likely face a “hard default” well before March 2012. It could happen during 2011, and perhaps after the current round of negotiations. This acknowledgement from someone very close ...

German website creates two-click Like button, Facebook not amused
ZDNet (blog)
In other words, they are not active by default; if you don't click anything, Facebook can't track your visit to Heise. After the first click, Heise performs an AJAX call and inserts the Facebook Like button dynamically. The necessary Facebook scripts ...

Spain changes constitution to escape default
The Voice of Russia
The Spanish government has introduced amendments to the Constitution to remove the threat of default. The amendment, approved by the parliament, states that by 2020 the state budget deficit should not exceed 0.4%. Now this figure is about 9%. ...

Novelists Predict Future With Eerie Accuracy
New York Times
By JOHN SCHWARTZ Last year, he had described, in his dystopian comic novel “Super Sad True Love Story,” a near future world in which economic chaos followed the United States' default on its debt, and Chinese creditors scolded America for its ...

Big retail property subject of foreclosure lawsuit
Baxter Bulletin
The entire property was attached to the mortgages as collateral along with a receivership agreement that directs all rents to the lender in the case of borrower default. Default began on July 27, 2010, and the loans against the property remained in ...

Investors 'nervous' as big banks raise capital
Bizjournals.com
Fear among investors appears to be growing as reports surface that some of the biggest banks may be in trouble and need to raise more capital if another financial crisis is sparked by continuing problems in Europe and a softening US economy. ...

Arch Cru victims face delay over compensation
This is Money
By Jeff Prestridge Investors who trusted their money to fund management house Arch Cru, only for the funds to be suspended in the wake of the financial crisis in early 2009, have been told they may have to wait a further two months before receiving ...

Royal Bank of Scotland to fight US mortgage action
BBC News
Values plunged during the financial crisis and a bailout of mortgage firms cost US taxpayers billions of dollars. RBS says it has "substantial" legal and factual defences to the US claims. A spokesman said: "We believe we have substantial and credible ...

Things Look So Bad They Can Only Get Better
Seeking Alpha
Lower even than they were at the end of 2008, when the market was priced to years of deflation, a global depression, the default of as many as half the companies in the country within the next 5 years, and a global financial collapse. Wow. ...

What workers can do to better their retirement
Telegraph.co.uk
At the heart of DC pensions is the default fund, which four out of five workers simply opt for when the sign up to their company scheme. Many default funds have come under fire in the past for being poor performers. But perhaps the biggest worry is ...

Europe's Debt Crisis Fuels Civil Resistance
CounterCurrents.org
When the world financial crisis erupted in 2008, most Western states resorted to lending massive amounts of money to save their tottering banks. Whereas previous to the crisis states belonging to the Euro zone were obliged to keep budgetary deficits ...

Greek central bank provided emergency funding to banks
Reuters
"Since the beginning of the fiscal crisis, as part of the Eurosystem, Bank of Greece is providing significant support to the liquidity of the banking system," Provopoulos said in an interview with Sunday's Kathimerini newspaper. ...

Fed's 'solution': Continue with the problem
Amarillo.com
Recently, former Federal Reserve Chairman Alan Greenspan appeared on “Meet the Press” in an attempt to reassure the American people that there was no chance that the federal government would default on the public debt. Far from being reassured, ...

Euro crises Euro bonds may be the final solution
Moneycontrol.com
“The more influence from the political side, which is the case now, after the increase, it will definitely not have the speed of avoiding contagion in the future.” He further said, in the end, the final solution would definitely be that there are euro ...

Cash crisis warning if expenditure is not contained
BusinessLIVE
Economists warn that government will find itself in a serious financial crisis if it fails to contain its expenditure. Zimbabweans queue to withdraw money from a bank in Bulawayo. This was said this week, two months after the Minister of Finance, ...

Dartmouth firm sues over loan program
TheChronicleHerald.ca
By JOANN ALBERSTAT Business Reporter A Dartmouth company is suing the Toronto firm that administers the federal student loan program, alleging it copied a system designed to help reduce default rates. The Canadian Financial Wellness Group Inc. filed ...

World Bank's Zoellick Says Sovereign Debt Crisis Threatens Euro
Bloomberg
“The financial crisis in Europe has become a sovereign debt crisis, with serious implications for the Monetary Union, banks and competitiveness of some countries.” European sovereign default risk rose to a record yesterday after a report showed ...

Probe Delays Huttenlocher Hedge Fund Launch
Wall Street Journal
In 2008, the Highbridge Asia fund suffered a roughly 30% loss by the end of October—worse than most hedge funds amid the financial crisis—prompting clients to request withdrawals for about 55% of the Asia fund's assets, say people familiar with the ...

Senior IMF Economist Expects Hard Default For Greece. Soon ...
By Yohay
According to a senior IMF economist who wasn't identified, Greece will likely face a “hard default” well before March 2012. It could happen during 2011, and perhaps after the current round of negotiations. This acknowledgement from someone ...
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